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HomeMy WebLinkAbout2025-07-25 BPMC Agenda and docsBRADLEY LAKE PROJECT MANAGEMENT COMMITTEE MEETING AGENDA July 25, 2025 10:00 AM To participate dial 1-888-585-9008 and use code 212-753-619# 1. CALL TO ORDER 2. ROLL CALL (for Committee members) 3. PUBLIC ROLL CALL (for all others present) 4. AGENDA APPROVAL 5. PUBLIC COMMENTS 6. APPROVAL OF MEETING MINUTES - June 20, 2025 7. NEW BUSINESS A. Annual Meeting and Election of Officers 8. OLD BUSINESS A. Updates: i. Grip 3, Phase 1 Update Jim Mendenhall ii. Dixon Diversion Update Ryan McLaughlin B. Railbelt Regional Coordination Update Brian Hickey C. Dixon Diversion Financing i. EXECUTIVE SESSION – (Bylaws Section 5.11.4(d)) – To discuss matters with an attorney for the Committee or a member of the Committee, the immediate knowledge of which could have an adverse effect on the legal position of the Committee or the Authority. 9. OPERATORS REPORT Martin Law 10. COMMITTEE REPORTS A. Budget vs. Actuals Mark Ziesmer B. O&D Report Josh Crowell 11. EXECUTIVE SESSION – (Bylaws Section 5.11.4(a)) – To discuss (1) confidential financial matters the immediate knowledge of which may have an adverse effect on the Authority or Project. 12. MEMBERS COMMENTSNEXT MEETING DATE – September 19, 2025 (new date) 13. ADJOURNMENT 813 W Northern Lights Blvd, Anchorage, AK 99503  Phone: (907) 771-3000  Fax: (907) 771-3044  Email: info@akenergyauthority.org REDUCING THE COST OF ENERGY IN ALASKA AKENERGYAUTHORITY.ORG MEMORANDUM TO: BPMC THROUGH: Curtis Thayer, Executive Director FROM: Jim Mendenhall, P.E., Program Manager DATE: July 17, 2025 SUBJECT: Cook Inlet Power Link – Update DOE Information Request As reported during the June BPMC meeting, the DOE Inspector General’s report flagged concerns with internal controls in the Grid Deployment Office. In response the DOE followed up with formal data requests to 179 different projects on May 15th. CIPLink is one of the projects included in the data request. AEA compiled the requested information and submitted it prior to the June 16th deadline. In the early morning hours of June 26th, an email was received from the DOE Process Review team requesting additional financing model information by COB that same day. AEA compiled the request information and submitted it per DOE’s instructions. Confirmation of receipt was received but no further communication has been provided to date from the DOE Process Review Team. DOE Contract Status AEA’s initial award covered a project budget period ending June 30, 2025. A formal “Go” decision recommendation was submitted to DOE on May 9th based on preliminary design documentation confirming the project can be completed on time and within budget. DOE technical staff indicated concurrence with AEA’s recommendation to proceed. A continuation request and cost estimate for Budget Period 2 (July 1, 2025 – June 30, 2027) was submitted to DOE. DOE’s technical and contracting representatives provided verbal confirmation of support for continuing into Budget Period 2. However, execution of a continuation agreement is pending authorization from the DOE Process Review Team. As a result, contract execution for procurement, environmental and FEED-related work has been postponed. Project development activities are continuing in the interim to remain on schedule. Environmental Review Following submission of the Data Request package, a NEPA Environmental Questionnaire was provided to DOE in support of Budget Period 2 scope of work. A Categorical Exclusion determination was issued within 10 days, enabling environmental and fieldwork activities to proceed in Summer 2026. Alaska Energy Authority Page 2 of 2 Budget Period 2 Activities The anticipated scope of work for Budget Period 2 includes: • Procurement of supplier arrangements • Completion of Front-End Engineering and Design (FEED) studies • Environmental Fieldwork Financial Status and Cost Share Strategy AEA has secured $64.2 million in combined state appropriations and Bradley bond proceeds. An additional $142.3 million is being sought to fully meet cost share obligations. To date, $1,207,265 has been expended on the project 813 W Northern Lights Blvd, Anchorage, AK 99503  Phone: (907) 771-3000  Fax: (907) 771-3044  Email: info@akenergyauthority.org REDUCING THE COST OF ENERGY IN ALASKA AKENERGYAUTHORITY.ORG MEMORANDUM TO: Bradley Project Management Committee Through: Curtis Thayer, Executive Director FROM: Ryan McLaughlin, PE, Infrastructure Engineer DATE: July 21, 2025 RE: Dixon Diversion Update Engineering Design efforts are ongoing, with a target of 30% design by January 2026 for submittal with the Draft License Amendment Application. Planning efforts underway for late-September drilling and geophysics at Bradley Dam. This will inform seismic stability of the dam and design of the dam raise. Probable Maximum Flood study is underway and expected to be complete in the fall. EPS is designing the installation of 3-phase power from powerhouse to the dam. Design will be a combination of overhead and underground due to extreme wind speeds recorded at Bradley. Environmental Aquatic, terrestrial, and cultural resources studies and summer 2025 field season is on schedule, as per approved Dixon Study Plan. Stream gaging trip occurred 7/22 to spot measure discharge on Martin River. Salmon surveys and geomorphology fieldwork are occurring next week. Raptor surveys just concluded. Red Lake video survey preliminary results indicate strongest sockeye run in the three years monitoring has occurred. Licensing FERC Draft License Amendment Application (DLAA) on schedule to be submitted in January 2026. License Exhibits A-G in draft. Budget AEA received $4MM in FY26 state budget to continue Dixon licensing work. AEA has sufficient funds to support FY26 with availability of Bond Series 11 funds. 1 Bradley Lake Project Management Committee Report on Railbelt Regional Coordination July 28, 2025 Overview: The Bradley Lake Project Management Committee is focused on two main objectives: expanding the project's capacity from 90 MW to its full potential of 120 MW and ensuring the reliable and resilient delivery of energy and capacity to all stakeholders. Moreover, the committee is committed to addressing and eliminating large-scale, small-signal instability oscillations that arise when the Bradley Project interacts with the summer valley during periods of low lake levels. Consistent with Section 32 of the Power sales agreement, which commits the participants to seek a high-capacity intertie between the Kenai and Fairbanks, a comprehensive regional transmission plan, named the Grid Modernization and Resiliency Plan (GMRP), has been developed. The implementation of GMRP is expected to yield several ancillary benefits, including a more resilient and robust grid capable of withstanding extreme weather events and other disruptions. The modernization efforts will enhance power transfer capabilities between regions, reduce the need for thermal reserves, decrease fuel consumption, and cut carbon emissions. Additionally, the upgraded grid will better accommodate variable clean energy sources. This report outlines our activities related to these efforts over the months of October and November. Contractors: • None Grant Efforts : State Match efforts The Legislature adjourned with minimal activity in this area. Looking Forward: The delegation expressed interest in our GRIP proposal and asked what assistance we might need with permitting, as well as which specific permits we believe may require expedited review. Other Activities: • As noted previously, on April 3rd, I transitioned to a reduced (40%) role at EDRRC as I begin assisting the Seward Electric System with their utility management. However, I will 2 continue to oversee the Federal Grant applications process and aid as required in state and utility match efforts. This report reflects our continuous commitment to enhancing the Railbelt region's energy infrastructure and resilience, marking significant milestones in our journey towards a more sustainable and efficient energy future. AEA DRAFT, 7/22/2025 1 BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE RESOLUTION NO. 25- XX INTRODUCTION The Bradley Lake Project Management Committee (“BPMC”) is responsible for the management, operation, maintenance, and improvement of the Bradley Lake Hydroelectric Project (the “Project”), subject to the non-delegable duties of the Alaska Energy Authority (the “Authority”). The Authority is currently pursuing an amendment to the Project’s Federal Energy Regulatory Commission (“FERC”) license to include a diversion of water from the Dixon Glacier to the existing Bradley Lake reservoir to increase the energy output at the Project (the “Dixon Diversion”). PURPOSE OF THE RESOLUTION BPMC Resolution 25-XX sets forth the support of the BPMC for the Authority’s proposed amendment to the FERC license for the Project and the financing necessary to complete the Dixon Diversion in order to increase the delivery of sustainable low-cost clean energy produced by the Project. BPMC RESOLUTION NO. 25-XX WHEREAS, the Bradley Lake Project Management Committee (“BPMC”) receives its authority under the Bradley Lake Hydroelectric Project Agreement for the Sale and Purchase of Electric Power (“Power Sales Agreement”) by and between Chugach Electric Association, Inc. ("CEA"), Homer Electric Association, Inc.("HEA"), Golden Valley Electric Association, Inc. ("GVEA"), Matanuska Electric Association, Inc. ("MEA"), City of Seward d/b/a Seward Electric System ("SES"), Alaska Electric and Energy Cooperative, Inc.("AEEC") and the Authority. WHEREAS, the Project is the lowest cost renewable energy generating facility on the Railbelt Electric System. WHEREAS, as the Authority pursues a FERC license amendment it is also evaluating financing options for the Dixon Diversion. The Dixon Diversion is expected to increase the energy output from Project by approximately~180,000MWh/year, beginning in the year 2031. The project as proposed sits entirely on state land and efficiently utilizes existing Project infrastructure. NOW, THEREFORE, BE IT RESOLVED THAT, the aforementioned comments, statements and recitals are incorporated and made part of this Resolution No. 25-XX. BE IT ALSO RESOLVED THAT, the proposed amendment to the Project’s FERC license includes a diversion of water from the Dixon Glacier to the existing Bradley Lake reservoir increasing the energy output at the Project and may include the following components: a diversion dam at the toe of the Dixon Glacier, a pipeline to convey water AEA DRAFT, 7/22/2025 2 from the Dixon Glacier into Bradley Lake, a new road, and modifications to the existing Bradley Dam that may raise the pool elevation by 14 feet. BE IT ALSO RESOLVED THAT, the BPMC supports the Authority as it develops a financing plan to complete FERC licensing amendments and construction of the Dixon Diversion. As Project Participants under the Power Sales Agreement each of CEA, HEA, GVEA, MEA, AEEC and SES agree to accept and pay for the increase in energy output consistent with their Percentage Share as defined in the Power Sales Agreement, subject to the following preconditions: (1) the Dixon Diversion shall be deemed a Required Project Work project under the Power Sales Agreement; (2).the Required Project Work determination is supported by all necessary industry and economic opinions; and (3) each Project Participant’s governing board shall authorize the financing. DATED at Anchorage Alaska, this _____ day of July 2025 ______________________________ Chair, Travis R. Million Attest : ______________________________ Secretary, Curtis Thayer Bradley Lake Operators Report Page 1 Bradley Lake Operator Report BPMC July 25, 2025 Unit Statistics: Generation Unit 1 (MWhrs) Unit 2 (MWhrs) Total (MWhrs) May 2025 June 2025 July *2025 21,717 18,097 11,597 22,295 18,594 11,057 44,012 36,691 22,654 Hydraulics Avg. Lake Level (ft.) Bradley Fishwater (ac ft.) Battle Creek MIF (ac ft.) May 2025 June 2025 July *2025 1,117 1,119 1,133 654 237 830 278.6 400.3 738.7 Battle Creek Inflows to Bradley (ac ft.) May 2024 June 2024 July *2025 1495.7 7171.0 7088.0 0.0 *Lake Level – 1,140.1’ As of July 20, 2025 Activities • Forced Outages – None to report. • Dam/Spillway – Completed the monthly safety inspections, and power tunnel drain measurements. • Battle Creek Diversion – In service. • Safety – There have been no lost time or reportable accidents for the months of June 2025. A safety meeting was conducted on July 9, 2025. Next safety meeting will be held on Aug. 13, 2025 • Unit #2 Breaker- EPC will be in on Oct 1, 2025, to do the final mechanical adjustments on the breaker. • Fire System- The Fire Marshal has still not completed his review of the Control Room Halon fire system replacement. The upgrade of the fire alarm system proposal due date has been pushed out to late August. I have received the bid for the 2014 ARC Flash study refresh. • Personnel- We currently have one Operator position open. Contractors/ Visitors • HEA – Larry Jorgensen & Brad Janorschke for Employee Brief and Safety Meeting. • EPS- Ben McReynolds Trouble shooting Unit #2 breaker. • DOWL- 2 Engineers, 1 Bear Guard for wetlands survey. • AEA- Ryan McLaughlin, FERC Chairperson Judy Chang, Senator Murkowski staffer. • AEA – 2 Geologists for posable quarry sites. • Kleinschmidt- Battle Creek field work. Bradley Lake Operators Report Page 2 Bradley Lake, Level 1,134.2’, July 11, 2025 Bradley Lake Operators Report Page 3 Battle Creek Diversion 11 July 2025 New Fire Hut Being Assembled Bradley Lake Operators Report Page 4 Alaska Energy Authority Bradley Lake Budget to Actual Expenses 07/01/2024 to 06/30/2025 DRAFT Page 1 of 13 FY23 FY23 FY24 FY24 FY25 FY25 BUDGET ACTUALS BUDGET ACTUALS BUDGET ACTUALS Upgrade Crews Quarters and Residents Kitchen 159,000 67,395 - - - - IRIS Air Gap Monitoring System (computer) 65,000 18,491 - - - - Replace Dump Truck and Sander - 29,493 - - - - Heavy Duty trailer for equipment 20,000 20,000 - - - - ABB Replace GIS Actuators 309,000 310,245 - - - - Replacement pickup truck - 46,299 - - - - Needle Valve rebuild 150,000 - - - - - Start new servo design 250,000 396,171 - - - - North Fork Improvements 5,000 - - - - - Mini Excavator 100,000 94,465 - - - - Install New Bradley Microwave System 500,000 280,356 518,000 45,215 - - Brush Hog for Front End Loader - - 150,000 - - 111,087 JLG All Terrain Fork Lift- New Purchase - - 190,000 213,942 - - Replace BL#5 2009 F150 Crew Cab Pickup - - 45,000 - - 48,995 Warehouse Heaters x2 (Replace) - - 5,000 - - - ISO Shipping Containers x2 (Replace) - - 40,000 30,700 - - Polaris Side by Side (Replace) - - - - 65,000 62,645 Crew Quarters Remodel - - - - 85,000 84,873 New Circuit Breaker - Generator #2 - - - - - 60,988 Contex HD Ultra X 3690 Color Scanner - - - - - 12,620 Total Non R&C Capital Purchases 1,558,000 1,262,914 948,000 289,857 150,000 381,209 BRADLEY LAKE CAPITAL PURCHASES NOT FUNDED BY R&C FUND ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Schedule A Expenses for the period 07/01/24 to 06/30/25 Page 2 of 13 ALASKA ENERGY AUTHORITY BRADLEY LAKE OPERATIONS & MAINTENANCE SCHEDULE B BUDGET TO ACTUAL EXPENSES FOR THE PERIOD 07/01/2024 THROUGH 06/30/2025 FY 25 FY 24 FY25 Approved Budget BUDGET % 07/01/2024 - 06/30/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY24 Approved Budget FY24 Actual Summary by expense type Staff Professional Services (Direct) 312,585 312,585 - - 462,854 462,854 (150,269) 387,700 325,581 Labor & Benefits 2,054,317 2,054,317 1,061,375 41,957 232,007 1,335,338 718,979 2,023,067 1,763,168 Travel 51,500 51,500 1,433 3,096 48,055 52,584 (1,084) 78,500 23,515 Training 55,000 55,000 3,990 - 3,221 7,211 47,789 50,000 10,238 Contractual 1,243,010 1,243,010 722,506 - 329,296 1,051,801 191,209 1,181,381 917,237 Consulting-Administrative 315,000 315,000 - - 46,054 46,054 268,946 265,000 236,601 Supplies & Materials 378,500 378,500 180,649 9,034 8,985 198,667 179,833 330,332 166,554 Other Costs 112,718 112,718 55,498 26,685 6,212 88,395 24,323 79,318 62,747 Equipment, Furniture & Machinery 35,000 35,000 13,336 - 2,754 16,090 18,910 165,000 159,553 Administrative Costs 1,978,224 1,978,224 63,557 - 1,672,368 1,735,925 242,299 1,553,800 1,807,663 Indirect Costs 1,480,105 1,480,105 1,245,688 - - 1,245,688 234,417 1,480,105 1,315,396 O&M 4% Allocation to Battle Creek (320,638) (320,638) - - - - (320,638) (303,768) - Total Bradley Lake Budget 7,695,321 7,695,321 3,348,030 80,772 2,811,804 6,240,606 1,454,714 7,290,435 6,788,254 FERC 535 - Operation Supervision & Engineering Operations Sup/Eng Bradley Lake Operating Labor & Benefits 105,451 105,451 93,480 - - 93,480 11,971 105,451 106,921 Travel 5,000 5,000 610 - 59 668 4,332 5,000 1,972 Training 5,000 5,000 - - - - 5,000 5,000 581 Contractual 3,000 3,000 407 - - 407 2,593 3,000 - Supplies & Materials 4,000 4,000 - - - - 4,000 4,000 233 Indirect Costs 155,698 155,698 131,031 - - 131,031 24,667 155,698 149,004 Bradley Lake Operating Total 278,149 278,149 225,528 - 59 225,587 52,562 278,149 258,711 FERC 535 - Operation Supervision & Engineering Total 278,149 278,149 225,528 - 59 225,587 52,562 278,149 258,711 FERC 537 - Hydraulic Expenses Hydraulic Expenses Bradley Lake Operating Labor & Benefits 95,262 95,262 73,341 - - 73,341 21,921 95,262 72,310 Contractual - - - - - - - 60,000 - Supplies & Materials 4,000 4,000 1,729 - - 1,729 2,271 2,000 2,461 Indirect Costs 109,250 109,250 100,375 - - 100,375 8,875 109,250 100,356 Bradley Lake Operating Total 208,512 208,512 175,445 - - 175,445 33,067 266,512 175,127 FERC 537 - Hydraulic Expenses Total 208,512 208,512 175,445 - - 175,445 33,067 266,512 175,127 FERC 538 - Electric Expenses Electric Expenses Bradley Lake Operating Labor & Benefits 218,044 218,044 211,953 - - 211,953 6,091 218,044 211,756 Travel 7,000 7,000 293 - - 293 6,707 7,000 209 Training 30,000 30,000 3,990 - - 3,990 26,010 30,000 9,514 Contractual 10,000 10,000 5,255 - - 5,255 4,745 5,000 2,506 Supplies & Materials 18,500 18,500 906 - - 906 17,594 13,732 11,183 Indirect Costs 262,004 262,004 248,485 - - 248,485 13,519 262,004 246,564 Bradley Lake Operating Total 545,548 545,548 470,882 - - 470,882 74,666 535,780 481,731 FERC 538 - Electric Expenses Total 545,548 545,548 470,882 - - 470,882 74,666 535,780 481,731 FERC 539 - Misc. Hydraulic Power Generation Expenses Misc Hydro Power Exp Bradley Lake Operating Labor & Benefits 107,742 107,742 73,835 - - 73,835 33,907 105,742 82,466 Training 20,000 20,000 - - - - 20,000 15,000 - Contractual 385,067 385,067 391,646 - - 391,646 (6,579) 360,067 398,523 Supplies & Materials 25,000 25,000 42,835 - - 42,835 (17,835) 25,000 34,014 Equipment, Furniture & Machinery - - 2,563 - - 2,563 (2,563) - - Indirect Costs 114,320 114,320 103,325 - - 103,325 10,995 114,320 114,239 Bradley Lake Operating Total 652,129 652,129 614,205 - - 614,205 37,924 620,129 629,241 BRADLEY CIRCUITS/RADIO TO BERNICE LK Other Costs 35,695 35,695 31,412 - - 31,412 4,283 35,695 34,268 BRADLEY CIRCUITS/RADIO TO BERNICE LK Total 35,695 35,695 31,412 - - 31,412 4,283 35,695 34,268 BRADLEY CIRCUITS BERNICE LK TO ANCH Other Costs 29,773 29,773 - 26,570 - 26,570 3,203 29,773 28,239 BRADLEY CIRCUITS BERNICE LK TO ANCH Total 29,773 29,773 - 26,570 - 26,570 3,203 29,773 28,239 LOWER BRADLEY CIRCUITS/RADIO TO BARGE DOCK Other Costs 45,000 45,000 24,085 - - 24,085 20,915 - - LOWER BRADLEY CIRCUITS/RADIO TO BARGE DOCK Total 45,000 45,000 24,085 - - 24,085 20,915 - - FERC 539 - Misc. Hydraulic Power Generation Expenses Total 762,597 762,597 669,702 26,570 - 696,272 66,325 685,597 691,748 FERC 541 - Maintenance Supervision & Engineering Maint Supervision/Eng Bradley Lake Operating Labor & Benefits 110,451 110,451 97,934 - - 97,934 12,517 110,451 112,706 Indirect Costs 155,698 155,698 131,031 - - 131,031 24,667 155,698 149,940 Bradley Lake Operating Total 266,149 266,149 228,965 - - 228,965 37,184 266,149 262,645 FERC 541 - Maintenance Supervision & Engineering Total 266,149 266,149 228,965 - - 228,965 37,184 266,149 262,645 FERC 542 - Maintenance of Structures Maintenance of Structures Default Default Total - - - - - - - - - Bradley Lake Operating Labor & Benefits 89,710 89,710 63,650 - - 63,650 26,060 89,710 70,851 Contractual 126,000 126,000 103,030 - - 103,030 22,970 56,000 43,732 Supplies & Materials 70,000 70,000 28,200 - - 28,200 41,800 78,000 20,423 Equipment, Furniture & Machinery 20,000 20,000 10,772 - - 10,772 9,228 15,000 19,772 Indirect Costs 102,350 102,350 87,971 - - 87,971 14,379 102,350 95,457 Bradley Lake Operating Total 408,060 408,060 293,624 - - 293,624 114,436 341,060 250,235 FERC 542 - Maintenance of Structures Total 408,060 408,060 293,624 - - 293,624 114,436 341,060 250,235 FERC 543 - Maintenance of Reservoirs, Dams & Waterways Maint Res, Dams, WWays Bradley Lake Operating Page 3 of 13 ALASKA ENERGY AUTHORITY BRADLEY LAKE OPERATIONS & MAINTENANCE SCHEDULE B BUDGET TO ACTUAL EXPENSES FOR THE PERIOD 07/01/2024 THROUGH 06/30/2025 FY 25 FY 24 FY25 Approved Budget BUDGET % 07/01/2024 - 06/30/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY24 Approved Budget FY24 Actual Labor & Benefits 51,783 51,783 12,184 - - 12,184 39,599 51,783 6,012 Contractual 39,500 39,500 41,306 - - 41,306 (1,806) 6,500 - Supplies & Materials 85,000 85,000 - - - - 85,000 20,000 - Equipment, Furniture & Machinery 15,000 15,000 - - - - 15,000 - - Indirect Costs 58,650 58,650 14,657 - - 14,657 43,993 58,650 8,664 Bradley Lake Operating Total 249,933 249,933 68,147 - - 68,147 181,786 136,933 14,675 BRADLEY POWER TUNNEL MAINT (Dam) Contractual 15,000 15,000 - - - - 15,000 15,000 - BRADLEY POWER TUNNEL MAINT (Dam) Total 15,000 15,000 - - - - 15,000 15,000 - FERC 543 - Maintenance of Reservoirs, Dams & Waterways Total 264,933 264,933 68,147 - - 68,147 196,786 151,933 14,675 FERC 544 - Maintenance of Electric Plant Maintenance of Elec Plant Bradley Lake Operating Labor & Benefits 309,110 309,110 243,988 - - 243,988 65,122 309,110 259,650 Travel 4,500 4,500 530 - - 530 3,970 4,500 354 Contractual 75,000 75,000 60,276 - - 60,276 14,724 40,000 51,632 Supplies & Materials 40,000 40,000 25,645 - - 25,645 14,355 40,000 36,163 Indirect Costs 423,178 423,178 340,626 - - 340,626 82,552 423,178 360,486 Bradley Lake Operating Total 851,788 851,788 671,066 - - 671,066 180,722 816,788 708,284 FERC 544 - Maintenance of Electric Plant Total 851,788 851,788 671,066 - - 671,066 180,722 816,788 708,284 FERC 545 - Maintenance of Misc. Hydraulic Plant Maint of Misc Hydr Plant Bradley Lake Operating Labor & Benefits 69,297 69,297 63,602 - - 63,602 5,695 69,297 65,189 Contractual 45,000 45,000 38,420 - - 38,420 6,580 45,000 74,760 Supplies & Materials 68,000 68,000 52,100 - - 52,100 15,900 68,000 53,871 Equipment, Furniture & Machinery - - - - - - - 150,000 139,780 Indirect Costs 98,957 98,957 88,187 - - 88,187 10,770 98,957 90,687 Bradley Lake Operating Total 281,254 281,254 242,309 - - 242,309 38,945 431,254 424,287 FERC 545 - Maintenance of Misc. Hydraulic Plant Total 281,254 281,254 242,309 - - 242,309 38,945 431,254 424,287 FERC 556 - System Control & Load Dispatching System Cntl & Load Disp Bradley Lake Operating Labor & Benefits 20,174 20,174 22,797 - - 22,797 (2,623) 20,174 11,901 Contractual 103,500 103,500 49,018 - - 49,018 54,482 85,500 44,724 Supplies & Materials 12,000 12,000 768 - - 768 11,232 12,000 438 Bradley Lake Operating Total 135,674 135,674 72,584 - - 72,584 63,090 117,674 57,063 Snow Measurement Bradley Lake Operating Contractual 10,000 10,000 - - 9,600 9,600 400 10,000 9,600 Bradley Lake Operating Total 10,000 10,000 - - 9,600 9,600 400 10,000 9,600 Seismic Service Bradley Lake Operating Contractual 64,868 64,868 - - 62,722 62,722 2,146 62,000 60,755 Bradley Lake Operating Total 64,868 64,868 - - 62,722 62,722 2,146 62,000 60,755 Streamguaging Serv Bradley Lake Operating Contractual 216,275 216,275 - - 256,974 256,974 (40,699) 278,014 151,920 Bradley Lake Operating Total 216,275 216,275 - - 256,974 256,974 (40,699) 278,014 151,920 Permits Bradley Lake Operating Other Costs 350 350 - - 240 240 110 350 240 Bradley Lake Operating Total 350 350 - - 240 240 110 350 240 FERC 556 - System Control & Load Dispatching Total 427,167 427,167 72,584 - 329,536 402,119 25,048 468,038 279,578 FERC 562 - Station Expenses Station Expenses Bradley Lake Operating Labor & Benefits 96,612 96,612 92,725 41,957 - 134,681 (38,069) 102,043 162,103 Travel 2,500 2,500 - 3,096 - 3,096 (596) 3,500 336 Contractual 79,800 79,800 33,147 - - 33,147 46,653 80,300 79,087 Supplies & Materials 23,000 23,000 16,500 9,034 - 25,534 (2,534) 19,600 5,501 Other Costs 1,900 1,900 - 115 - 115 1,785 1,500 - Bradley Lake Operating Total 203,812 203,812 142,372 54,202 - 196,573 7,239 206,943 247,026 FERC 562 - Station Expenses Total 203,812 203,812 142,372 54,202 - 196,573 7,239 206,943 247,026 #N/A Maintenance of Station Equip Bradley Lake Operating Bradley Lake Operating Total - - - - - - - - - #N/A - - - - - - - - - FERC 571 - Maintenance of Overhead Lines Maint of OH Lines Bradley Lake Operating Labor & Benefits 36,500 36,500 11,885 - - 11,885 24,615 16,000 52,998 Contractual 70,000 70,000 - - - - 70,000 75,000 - Supplies & Materials 20,000 20,000 11,965 - - 11,965 8,035 30,000 - Bradley Lake Operating Total 126,500 126,500 23,850 - - 23,850 102,650 121,000 52,998 FERC 571 - Maintenance of Overhead Lines Total 126,500 126,500 23,850 - - 23,850 102,650 121,000 52,998 FERC 920 & 930 - Administrative Expense AEA Bradley Fixed Admin Fees Bradley Lake Operating Staff Professional Services (Direct) 312,585 312,585 - - 462,854 462,854 (150,269) 387,700 325,581 Travel - - - - 45,929 45,929 (45,929) - 20,643 Training - - - - 3,221 3,221 (3,221) - 144 Consulting-Administrative - - - - 1,774 1,774 (1,774) - 17,374 Supplies & Materials - - - - 8,985 8,985 (8,985) - 2,268 Other Costs - - - - 5,972 5,972 (5,972) - - Equipment, Furniture & Machinery - - - - 2,754 2,754 (2,754) - - Page 4 of 13 ALASKA ENERGY AUTHORITY BRADLEY LAKE OPERATIONS & MAINTENANCE SCHEDULE B BUDGET TO ACTUAL EXPENSES FOR THE PERIOD 07/01/2024 THROUGH 06/30/2025 FY 25 FY 24 FY25 Approved Budget BUDGET % 07/01/2024 - 06/30/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY24 Approved Budget FY24 Actual Administrative Costs 172,500 172,500 - - 346,954 346,954 (174,454) 2,500 186,707 Bradley Lake Operating Total 485,085 485,085 - - 878,442 878,442 (393,357) 390,200 552,716 General & Administrative Costs General & Administrative Costs Total - - - - - - - - - Operating Committee Exp-Audit Bradley Lake Operating Administrative Costs 41,000 41,000 - - 38,534 38,534 2,466 22,000 35,030 Bradley Lake Operating Total 41,000 41,000 - - 38,534 38,534 2,466 22,000 35,030 Operating Committee Exp-Legal Bradley Lake Operating Administrative Costs 80,000 80,000 - - 114,438 114,438 (34,438) 80,000 149,198 Bradley Lake Operating Total 80,000 80,000 - - 114,438 114,438 (34,438) 80,000 149,198 Trust & Account Fees Bradley Lake Operating Administrative Costs - - - - - - - 13,000 - Bradley Lake Operating Total - - - - - - - 13,000 - Battle Creek Operating Battle Creek Operating Total - - - - - - - - - Misc Admin Bradley Lake Operating Administrative Costs 13,000 13,000 - - 14,588 14,588 (1,588) 13,000 14,110 Bradley Lake Operating Total 13,000 13,000 - - 14,588 14,588 (1,588) 13,000 14,110 Professional Consultants Bradley Lake Operating Labor & Benefits 744,181 744,181 - - 232,007 232,007 512,175 730,000 548,307 Travel 32,500 32,500 - - 2,068 2,068 30,432 58,500 - Supplies & Materials 9,000 9,000 - - - - 9,000 18,000 - Other Costs - - - - - - - 12,000 - Bradley Lake Operating Total 785,681 785,681 - - 234,074 234,074 551,607 818,500 548,307 FERC 920 & 930 - Administrative Expense Total 1,404,766 1,404,766 - - 1,280,076 1,280,076 124,690 1,336,700 1,299,363 FERC 924 & 925 - Insurance Premiums Insurance Premiums Bradley Lake Operating Administrative Costs 1,371,724 1,371,724 63,557 - 1,098,815 1,162,372 209,352 1,138,300 1,219,190 Bradley Lake Operating Total 1,371,724 1,371,724 63,557 - 1,098,815 1,162,372 209,352 1,138,300 1,219,190 FERC 924 & 925 - Insurance Premiums Total 1,371,724 1,371,724 63,557 - 1,098,815 1,162,372 209,352 1,138,300 1,219,190 FERC 923 - Outside Services Employed Outside Services Employed Bradley Lake Operating Consulting-Administrative 315,000 315,000 - - 44,280 44,280 270,720 265,000 219,228 Bradley Lake Operating Total 315,000 315,000 - - 44,280 44,280 270,720 265,000 219,228 FERC 923 - Outside Services Employed Total 315,000 315,000 - - 44,280 44,280 270,720 265,000 219,228 FERC 928 - Regulatory Commission Expenses FERC Admin Fees Bradley Lake Operating Administrative Costs 180,000 180,000 - - - - 180,000 165,000 155,391 Bradley Lake Operating Total 180,000 180,000 - - - - 180,000 165,000 155,391 FERC Related Prof Services Bradley Lake Operating Bradley Lake Operating Total - - - - - - - - - BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Administrative Costs 120,000 120,000 - - 59,039 59,039 60,961 120,000 48,036 BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total 120,000 120,000 - - 59,039 59,039 60,961 120,000 48,036 FERC 928 - Regulatory Commission Expenses Total 300,000 300,000 - - 59,039 59,039 240,961 285,000 203,427 O&M 4% Allocation to Battle Creek (320,638) (320,638) - - - - (320,638) (303,768) - Total Bradley Lake Budget 7,695,321 7,695,321 3,348,030 80,772 2,811,804 6,240,606 1,454,714 7,290,435 6,788,254 Page 5 of 13 Actual Projected Actual Projected Actual Projected @ 6/30/23 TO REPAY Budget @ 6/30/24 TO REPAY Budget @ 6/30/25 TO REPAY Budget Description Expense @6/30/23 FY23 Expense @6/30/24 FY24 Expense @6/30/25 FY25 R&C FUND PROJECTS Governor - 4,052,070 - - 4,052,070 - - 4,052,070 - Replace RFLS - 251,093 - - 251,093 - - 251,093 - Replace Runners - 1,946,733 - - 1,946,733 - - 1,946,733 - Replace cable from dam to power house - 2,321,923 - - 2,321,923 - - 2,321,923 - Replace power system stabilizer - 619,205 - - 619,205 - - 619,205 - Replace two RTUs - 86,905 - - 86,905 - - 86,905 - Culvert Repairs - 675,967 - - 675,967 - - 675,967 - Tower Repair for Jack Frost Heaves - 887,597 - - 887,597 - - 887,597 - Replace Plant and SCADA Controls - 1,344,683 - - 1,344,683 - - 1,344,683 - Vibration Monitoring System - 490 - - 490 - - 490 - Fire Alarm System Replacement 3,173 137,397 1,500,000 33,942 171,339 1,338,000 - 171,339 1,307,299 Battle Creek Diversion - 1,170,000 - - 1,170,000 - - 1,170,000 - Bradley Replace Electro-Mechanical Relays - 1,277,197 - - 1,277,197 - - 1,277,197 - Fishwater Screen Debris Removal - 312,236 - - 312,236 - - 312,236 - Turbine Nozzle Repair - 1,428,861 - - 1,428,861 - - 1,428,861 - SVC replacement Daves Creek | Soldotna - 8,517,991 - - 8,517,991 - - 8,517,991 - Equipment Storage Shed - 510,550 - - 510,550 - - 510,550 - Emerson Operating System Upgrade - 622,665 - - 622,665 - - 622,665 - Generator #2 Replacement - 953,213 - - 953,213 - - 953,213 - Road Grader - 342,330 - - 342,330 - - 342,330 - Battle Creek Construction - 3,739,591 - - 3,739,591 - - 3,739,591 - Battle Creek Cash Call-Expended - 750,000 - - 750,000 - - 750,000 - Battle Creek Cash Call-Paid by Utilities - (750,000) - - (750,000) - - (750,000) - Needle Repairs - 1,482,791 - - 1,482,791 - - 1,482,791 - Construct Additional Residence 125,175 194,769 - 805,515 1,000,284 910,000 75,156 1,075,440 - Spillway Raise & Expansion Project (aka Dixon Diversion)**661,472 1,208,731 1,500,000 175,651 1,384,381 252,000 776,166 2,160,547 839,270 Needle Valve Rebuild - - - 198,086 198,086 1,579,535 1,504,127 1,702,213 1,719,535 Barge Dock Rehabilitation - - - - - - 401 401 600,000 789,820 34,084,987 3,000,000 1,213,194 35,298,181 4,079,535 2,355,849 37,654,030 4,466,103 Current Year R&C Repayment (2,757,013) (3,338,646) (2,580,808) Adjust balance to $5 million - - - Interest in Fund Applied to Repayment (100,912) (246,205) (157,748) Net Transfer from Revenue Fund (2,857,925) (3,584,851) (2,738,556) Cumulative Prior Years R&C Repayments (29,808,017) (31,677,137) (33,746,653) Due to (from) Utilities 988,805 1,515,335 1,401,786 Adjust Due to R&C Actual - - - (28,819,211) (30,161,802) (32,344,867) NET DUE TO R&C FUND 2,407,851 1,551,528 2,570,608 R&C FUND CASH FLOW PROJECTION Beginning Investment Balance 2,363,808 4,370,333 6,177,000 Disbursements-current year -Accrual - - - Disbursements-prior year accrued (473,241) (789,379) (1,213,194) Utilities' R&C Refund (378,159) (988,805) (1,515,335) Net other cash inflow(outflow) - - - Current year interest earnings 100,912 246,205 157,748 Participants Contributions to R&C Fund 2,757,013 3,338,646 2,580,808 Ending Investment Balance 4,370,333 6,177,000 6,187,027 Accrued Due to (from) Utilities (988,805) (1,515,335) (1,401,786) R&C payable back to the revenue fund - - - Accrued R&C vendor Payable at Year End (789,379) (1,213,194) (2,355,849) PROJECTED NET DUE + ENDING INVESTMENT BALANCE 5,000,000 5,000,000 5,000,000 **Spillway Raise & Expansion Project (aka Dixon Diversion) Budget Committed Encumbered Actuals Variance Bradley Lake R&C Fund 2,300,000 12,280 126,732 2,160,988 - REF Grant (CEA) 1,000,000 - 315,640 684,360 - State Hydro Development 5,000,000 120,000 662,284 4,217,716 - State Railbelt 1,379,700 - 642,720 208,741 528,239 Bond Series 11 Interest 6,000,000 - - 2,023 5,997,977 Total Project Cost at 06/30/25 15,679,700 132,280 1,747,376 7,273,828 6,526,216 4th 103,013 3rd 1,321,709 4th 1,321,709 2nd 247,054 3rd 247,054 4th 247,054 1st 197,455 2nd 197,455 3rd 197,455 1st 303,298 2nd 303,298 1st 588,962 1,869,230 2,069,516 1,336,770 BRADLEY LAKE R&C FUND DISBURSEMENTS AND REPAYMENTS SCHEDULE D Expenses for the period 07/01/24 to 06/30/25 Page 6 of 13 FY23 FY23 FY24 FY24 FY25 FY25 BUDGET ACTUALS BUDGET ACTUALS BUDGET ACTUALS Battle Creek Associated Costs 15,000 11,986 15,000 - - - Vent Enlargement 50,000 32,407 - - - - Pressure Sensor w SCADA 25,000 27,030 - - - - Survey and Monument DNR Lease - - 150,000 88,651 5,000 2,621 Total Non R&C Capital Purchases 90,000 71,423 165,000 88,651 5,000 2,621 BATTLE CREEK CAPITAL PURCHASES NOT FUNDED BY R&C FUND ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Battle Creek Capital Purchases Schedule E Expenses for the period 07/01/24 to 06/30/25 Page 7 of 13 BATTLE CREEK OPERATIONS & MAINTENANCE SCHEDULE F BUDGET TO ACTUAL EXPENSES FOR THE PERIOD 07/01/2024 THROUGH 06/30/2025 FY 25 FY 24 FY25 Approved Budget BUDGET % 07/01/2024 - 06/30/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY24 Approved Budget FY24 Actual Summary by expense type Staff Professional Services (Direct) 50,000 50,000 - - 42,618 42,618 7,382 50,000 48,886 Labor & Benefits 10,000 10,000 44,224 1,748 9,667 55,639 (45,639) - 73,465 Travel - - 60 129 2,867 3,056 (3,056) - 1,411 Training - - 166 - 134 300 (300) - 427 Contractual 201,300 201,300 29,788 - 109,738 139,526 61,774 125,000 154,741 Consulting-Administrative - - - - 1,919 1,919 (1,919) - 9,858 Supplies & Materials 5,000 5,000 7,527 376 267 8,171 (3,171) - 6,940 Other Costs - - 2,312 1,112 259 3,683 (3,683) - 2,614 Equipment, Furniture & Machinery - - 556 - 115 670 (670) - 6,648 Administrative Costs 14,000 14,000 2,648 - 69,716 72,364 (58,364) 11,500 81,420 Indirect Costs - - 51,904 - - 51,904 (51,904) - 54,808 O&M 4% Allocation to Battle Creek 320,638 320,638 - - - - 320,638 303,768 - Total Battle Creek Budget 600,938 600,938 139,185 3,365 237,301 379,851 221,087 490,268 441,218 FERC 535 - Operation Supervision & Engineering Operations Sup/Eng Battle Creek Operating Labor & Benefits 1,500 1,500 3,895 - - 3,895 (2,395) - 4,455 Travel - - 25 - 2 28 (28) - 82 Training - - - - - - - - 24 Contractual - - 17 - - 17 (17) - - Supplies & Materials 1,000 1,000 - - - - 1,000 - 10 Indirect Costs - - 5,460 - - 5,460 (5,460) - 6,209 Battle Creek Operating Total 2,500 2,500 9,397 - 2 9,399 (6,899) - 10,780 FERC 535 - Operation Supervision & Engineering Total 2,500 2,500 9,397 - 2 9,399 (6,899) - 10,780 FERC 537 - Hydraulic Expenses Hydraulic Expenses Battle Creek Operating Labor & Benefits 1,500 1,500 3,056 - - 3,056 (1,556) - 3,013 Contractual 145,000 145,000 - - 96,484 96,484 48,516 70,000 62,923 Supplies & Materials 1,000 1,000 72 - - 72 928 - 103 Indirect Costs - - 4,182 - - 4,182 (4,182) - 4,182 Battle Creek Operating Total 147,500 147,500 7,310 - 96,484 103,795 43,705 70,000 70,220 FERC 537 - Hydraulic Expenses Total 147,500 147,500 7,310 - 96,484 103,795 43,705 70,000 70,220 FERC 538 - Electric Expenses Electric Expenses Battle Creek Operating Labor & Benefits 1,500 1,500 8,831 - - 8,831 (7,331) - 8,823 Travel - - 12 - - 12 (12) - 9 Training - - 166 - - 166 (166) - 396 Contractual - - 219 - - 219 (219) - 104 Supplies & Materials 1,000 1,000 38 - - 38 962 - 466 Indirect Costs - - 10,354 - - 10,354 (10,354) - 10,273 Battle Creek Operating Total 2,500 2,500 19,620 - - 19,620 (17,120) - 20,072 FERC 538 - Electric Expenses Total 2,500 2,500 19,620 - - 19,620 (17,120) - 20,072 FERC 539 - Misc. Hydraulic Power Generation Expenses Misc Hydro Power Exp Battle Creek Operating Labor & Benefits 1,500 1,500 3,076 - - 3,076 (1,576) - 3,436 Contractual - - 16,319 - - 16,319 (16,319) - 16,605 Supplies & Materials 1,000 1,000 1,785 - - 1,785 (785) - 1,417 Other Costs - - 2,312 1,107 - 3,419 (3,419) - 2,604 Equipment, Furniture & Machinery - - 107 - - 107 (107) - - Indirect Costs - - 4,305 - - 4,305 (4,305) - 4,760 Battle Creek Operating Total 2,500 2,500 27,904 1,107 - 29,011 (26,511) - 28,823 FERC 539 - Misc. Hydraulic Power Generation Expenses Total 2,500 2,500 27,904 1,107 - 29,011 (26,511) - 28,823 FERC 541 - Maintenance Supervision & Engineering Maint Supervision/Eng Battle Creek Operating Labor & Benefits 2,500 2,500 4,081 - - 4,081 (1,581) - 4,696 Indirect Costs - - 5,460 - - 5,460 (5,460) - 6,247 Battle Creek Operating Total 2,500 2,500 9,540 - - 9,540 (7,040) - 10,944 FERC 541 - Maintenance Supervision & Engineering Total 2,500 2,500 9,540 - - 9,540 (7,040) - 10,944 FERC 542 - Maintenance of Structures Maintenance of Structures Battle Creek Operating Labor & Benefits 1,500 1,500 2,652 - - 2,652 (1,152) - 2,952 Contractual - - 4,293 - - 4,293 (4,293) - 1,822 Supplies & Materials 1,000 1,000 1,175 - - 1,175 (175) - 851 Equipment, Furniture & Machinery - - 449 - - 449 (449) - 824 Indirect Costs - - 3,665 - - 3,665 (3,665) - 3,977 Battle Creek Operating Total 2,500 2,500 12,234 - - 12,234 (9,734) - 10,426 FERC 542 - Maintenance of Structures Total 2,500 2,500 12,234 - - 12,234 (9,734) - 10,426 FERC 543 - Maintenance of Reservoirs, Dams & Waterways Maint Res, Dams, WWays Battle Creek Operating Labor & Benefits - - 508 - - 508 (508) - 250 Contractual - - 1,721 - - 1,721 (1,721) - - Indirect Costs - - 611 - - 611 (611) - 361 Battle Creek Operating Total - - 2,839 - - 2,839 (2,839) - 611 FERC 543 - Maintenance of Reservoirs, Dams & Waterways Total - - 2,839 - - 2,839 (2,839) - 611 FERC 544 - Maintenance of Electric Plant Maintenance of Elec Plant Battle Creek Operating Labor & Benefits - - 10,166 - - 10,166 (10,166) - 10,819 Travel - - 22 - - 22 (22) - 15 Contractual - - 2,511 - - 2,511 (2,511) - 2,151 ALASKA ENERGY AUTHORITY Page 8 of 13 BATTLE CREEK OPERATIONS & MAINTENANCE SCHEDULE F BUDGET TO ACTUAL EXPENSES FOR THE PERIOD 07/01/2024 THROUGH 06/30/2025 FY 25 FY 24 FY25 Approved Budget BUDGET % 07/01/2024 - 06/30/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY24 Approved Budget FY24 Actual ALASKA ENERGY AUTHORITY Supplies & Materials - - 1,069 - - 1,069 (1,069) - 1,507 Indirect Costs - - 14,193 - - 14,193 (14,193) - 15,020 Battle Creek Operating Total - - 27,961 - - 27,961 (27,961) - 29,512 FERC 544 - Maintenance of Electric Plant Total - - 27,961 - - 27,961 (27,961) - 29,512 FERC 545 - Maintenance of Misc. Hydraulic Plant Maint of Misc Hydr Plant Battle Creek Operating Labor & Benefits - - 2,650 - - 2,650 (2,650) - 2,716 Contractual - - 1,601 - - 1,601 (1,601) - 3,115 Supplies & Materials - - 2,171 - - 2,171 (2,171) - 2,245 Equipment, Furniture & Machinery - - - - - - - - 5,824 Indirect Costs - - 3,674 - - 3,674 (3,674) - 3,779 Battle Creek Operating Total - - 10,096 - - 10,096 (10,096) - 17,679 FERC 545 - Maintenance of Misc. Hydraulic Plant Total - - 10,096 - - 10,096 (10,096) - 17,679 FERC 556 - System Control & Load Dispatching System Cntl & Load Disp Battle Creek Operating Labor & Benefits - - 950 - - 950 (950) - 496 Contractual - - 2,042 - - 2,042 (2,042) - 1,864 Supplies & Materials - - 32 - - 32 (32) - 18 Battle Creek Operating Total - - 3,024 - - 3,024 (3,024) - 2,378 Snow Measurement Battle Creek Operating Contractual - - - - 400 400 (400) - 400 Battle Creek Operating Total - - - - 400 400 (400) - 400 Seismic Service Battle Creek Operating Contractual - - - - 2,146 2,146 (2,146) - 2,531 Battle Creek Operating Total - - - - 2,146 2,146 (2,146) - 2,531 Streamguaging Serv Battle Creek Operating Contractual 56,300 56,300 - - 10,707 10,707 45,593 55,000 59,930 Battle Creek Operating Total 56,300 56,300 - - 10,707 10,707 45,593 55,000 59,930 Permits Battle Creek Operating Other Costs - - - - 10 10 (10) - 10 Battle Creek Operating Total - - - - 10 10 (10) - 10 FERC 556 - System Control & Load Dispatching Total 56,300 56,300 3,024 - 13,263 16,288 40,012 55,000 65,249 FERC 562 - Station Expenses Station Expenses Battle Creek Operating Labor & Benefits - - 3,864 1,748 - 5,612 (5,612) - 6,754 Travel - - - 129 - 129 (129) - 14 Contractual - - 1,065 - - 1,065 (1,065) - 3,295 Supplies & Materials - - 688 376 - 1,064 (1,064) - 229 Other Costs - - - 5 - 5 (5) - - Battle Creek Operating Total - - 5,616 2,258 - 7,874 (7,874) - 10,293 FERC 562 - Station Expenses Total - - 5,616 2,258 - 7,874 (7,874) - 10,293 FERC 571 - Maintenance of Overhead Lines Maint of OH Lines Battle Creek Operating Labor & Benefits - - 495 - - 495 (495) - 2,208 Supplies & Materials - - 499 - - 499 (499) - - Battle Creek Operating Total - - 994 - - 994 (994) - 2,208 FERC 571 - Maintenance of Overhead Lines Total - - 994 - - 994 (994) - 2,208 FERC 920 & 930 - Administrative Expense AEA Bradley Fixed Admin Fees Battle Creek Operating Staff Professional Services (Direct) 50,000 50,000 - - 42,618 42,618 7,382 50,000 48,886 Travel - - - - 2,779 2,779 (2,779) - 1,291 Training - - - - 134 134 (134) - 6 Consulting-Administrative - - - - 74 74 (74) - 724 Supplies & Materials - - - - 267 267 (267) - 94 Other Costs - - - - 249 249 (249) - - Equipment, Furniture & Machinery - - - - 115 115 (115) - - Administrative Costs - - - - 14,456 14,456 (14,456) - 7,793 Battle Creek Operating Total 50,000 50,000 - - 60,693 60,693 (10,693) 50,000 58,794 Operating Committee Exp-Audit Battle Creek Operating Administrative Costs - - - - 1,606 1,606 (1,606) - 1,460 Battle Creek Operating Total - - - - 1,606 1,606 (1,606) - 1,460 Operating Committee Exp-Legal Battle Creek Operating Administrative Costs 5,000 5,000 - - 4,768 4,768 232 5,000 6,217 Battle Creek Operating Total 5,000 5,000 - - 4,768 4,768 232 5,000 6,217 Operat Committee Exp-Arbitrage Battle Creek Operating Administrative Costs 2,500 2,500 - - - - 2,500 - 1,690 Battle Creek Operating Total 2,500 2,500 - - - - 2,500 - 1,690 Trust & Account Fees Battle Creek Operating Administrative Costs 5,500 5,500 - - 4,400 4,400 1,100 5,500 4,170 Battle Creek Operating Total 5,500 5,500 - - 4,400 4,400 1,100 5,500 4,170 Misc Admin Battle Creek Operating Administrative Costs 1,000 1,000 - - 608 608 392 1,000 588 Battle Creek Operating Total 1,000 1,000 - - 608 608 392 1,000 588 Page 9 of 13 BATTLE CREEK OPERATIONS & MAINTENANCE SCHEDULE F BUDGET TO ACTUAL EXPENSES FOR THE PERIOD 07/01/2024 THROUGH 06/30/2025 FY 25 FY 24 FY25 Approved Budget BUDGET % 07/01/2024 - 06/30/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY24 Approved Budget FY24 Actual ALASKA ENERGY AUTHORITY Professional Consultants Battle Creek Operating Labor & Benefits - - - - 9,667 9,667 (9,667) - 22,846 Travel - - - - 86 86 (86) - - Battle Creek Operating Total - - - - 9,753 9,753 (9,753) - 22,846 FERC 920 & 930 - Administrative Expense Total 64,000 64,000 - - 81,827 81,827 (17,827) 61,500 95,764 FERC 924 & 925 - Insurance Premiums Insurance Premiums Battle Creek Operating Administrative Costs - - 2,648 - 41,418 44,066 (44,066) - 50,800 Battle Creek Operating Total - - 2,648 - 41,418 44,066 (44,066) - 50,800 FERC 924 & 925 - Insurance Premiums Total - - 2,648 - 41,418 44,066 (44,066) - 50,800 FERC 923 - Outside Services Employed Outside Services Employed Battle Creek Operating Consulting-Administrative - - - - 1,845 1,845 (1,845) - 9,134 Battle Creek Operating Total - - - - 1,845 1,845 (1,845) - 9,134 FERC 923 - Outside Services Employed Total - - - - 1,845 1,845 (1,845) - 9,134 FERC 928 - Regulatory Commission Expenses FERC Admin Fees Battle Creek Operating Administrative Costs - - - - - - - - 6,475 Battle Creek Operating Total - - - - - - - - 6,475 FERC Related Prof Services BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Administrative Costs - - - - - - - - 227 BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total - - - - - - - - 227 Battle Creek Operating Administrative Costs - - - - 2,460 2,460 (2,460) - 2,002 Battle Creek Operating Total - - - - 2,460 2,460 (2,460) - 2,002 FERC 928 - Regulatory Commission Expenses Total - - - - 2,460 2,460 (2,460) - 8,703 O&M Allocation to Battle Creek 320,638 320,638 - - - - 320,638 303,768 - Total Battle Creek Budget 600,938 600,938 139,185 3,365 237,301 379,851 221,087 490,268 441,218 Page 10 of 13 FY23 FY23 FY24 FY24 FY25 FY25 BUDGET ACTUALS BUDGET ACTUALS BUDGET ACTUALS SSQ Line Access Documentation - 23,555 - - - - SSQ Soldotna-Qtz Ck 230kV Construction - 441,262 - - - - Total Non R&C Capital Purchases - 464,817 - - - - SSQ LINE CAPITAL PURCHASES NOT FUNDED BY R&C FUND ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT SSQ Line Capital Purchases Schedule H Expenses for the period 07/01/24 to 06/30/25 Page 11 of 13 FY 25 FY 24 FY25 Approved Budget BUDGET % 07/01/2024 - 06/30/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY24 Approved Budget FY24 Actual Summary by expense type Staff Professional Services (Direct)40,000 40,000 - - 6,643 6,643 33,357 15,000 34,357 Labor & Benefits 50,000 50,000 47,722 - - 47,722 2,278 50,000 - Travel - - - - 63 63 (63) - 338 Contractual 150,000 150,000 54,879 - - 54,879 95,121 175,000 - Permitting 36,878 36,878 - - 38,252 38,252 (1,374) 40,000 2,969 Supplies & Materials 20,000 20,000 - - 52 52 19,948 25,000 567 Other Costs - - - - - - - - 1,250 Administrative Costs 47,000 47,000 - - 3,882 3,882 43,118 2,000 38,439 Total SSQ Line Budget 343,878 343,878 102,602 - 48,891 151,493 192,385 307,000 77,920 FERC 540 - Rents FERC Land Use Fee SSQ Line Operating Other Costs - - - - - - - - 1,250 SSQ Line Operating Total - - - - - - - - 1,250 FERC 540 - Rents Total - - - - - - - - 1,250 FERC 556 - System Control & Load Dispatching Permits SSQ Line Operating Permitting 36,878 36,878 - - 38,252 38,252 (1,374) 40,000 2,969 SSQ Line Operating Total 36,878 36,878 - - 38,252 38,252 (1,374) 40,000 2,969 FERC 556 - System Control & Load Dispatching Total 36,878 36,878 - - 38,252 38,252 (1,374) 40,000 2,969 #N/A Maintenance of Station Equip SSQ Line Operating SSQ Line Operating Total - - - - - - - - - #N/A - - - - - - - - - FERC 571 - Maintenance of Overhead Lines Maint of OH Lines SSQ Line Operating Labor & Benefits 50,000 50,000 47,722 - - 47,722 2,278 50,000 - Contractual 150,000 150,000 54,879 - - 54,879 95,121 175,000 - Supplies & Materials 20,000 20,000 - - - - 20,000 25,000 - SSQ Line Operating Total 220,000 220,000 102,602 - - 102,602 117,398 250,000 - FERC 571 - Maintenance of Overhead Lines Total 220,000 220,000 102,602 - - 102,602 117,398 250,000 - FERC 920 & 930 - Administrative Expense AEA Bradley Fixed Admin Fees Battle Creek Operating Battle Creek Operating Total - - - - - - - - - SSQ Line Operating Staff Professional Services (Direct)40,000 40,000 - - 6,643 6,643 33,357 15,000 34,357 Travel - - - - 63 63 (63) - 338 Supplies & Materials - - - - 52 52 (52) - 567 Administrative Costs 20,000 20,000 - - 1,882 1,882 18,118 - 36,439 SSQ Line Operating Total 60,000 60,000 - - 8,639 8,639 51,361 15,000 71,701 General & Administrative Costs General & Administrative Costs Total - - - - - - - - - Trust & Account Fees SSQ Line Operating Administrative Costs 2,000 2,000 - - 2,000 2,000 - 2,000 2,000 SSQ Line Operating Total 2,000 2,000 - - 2,000 2,000 - 2,000 2,000 FERC 920 & 930 - Administrative Expense Total 62,000 62,000 - - 10,639 10,639 51,361 17,000 73,701 FERC 928 - Regulatory Commission Expenses FERC Related Prof Services BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Administrative Costs 25,000 25,000 - - - - 25,000 - - BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total 25,000 25,000 - - - - 25,000 - - FERC 928 - Regulatory Commission Expenses Total 25,000 25,000 - - - - 25,000 - - Total SSQ Line Budget 343,878 343,878 102,602 - 48,891 151,493 192,385 307,000 77,920 ALASKA ENERGY AUTHORITY SSQ LINE OPERATIONS & MAINTENANCE SCHEDULE I BUDGET TO ACTUAL EXPENSES FOR THE PERIOD 07/01/2024 THROUGH 06/30/2025 Page 12 of 13 Source Construction Funds at 11/30/22 Investment Expenses Calculated Capital Reserve at 11/30/22 Released from Capital Reserve Total Available Funding Required Project Work Bond Series 11 Funding 166,013,134 (157,250) (12,454,346) 1,151,865 154,553,403 BESS Required Project Work Bond Series 11 Funded Capital Projects Total Funding Project Budget Committed Encumbered Total Actual Costs (Over) / Under Project Budget (Over) / Under Total Funding BRADLEY HEA BESS Preliminary Study 75,000 - 22,473 958 51,569 Oscillation Dampening Service - CEA 16,072,398 - - 763,294 15,309,104 Oscillation Dampening Service - MEA 3,870,839 - - 183,829 3,687,010 Total BESS Capital Projects 24,093,691 20,018,236 - 22,473 948,081 19,047,682 23,123,137 Transmission Required Project Work Bond Series 11 Funded Capital Projects Total Funding Project Budget Committed Encumbered Total Actual Costs (Over) / Under Project Budget (Over) / Under Total Funding SSQ Line Sterling-Qtz Ck 230kV Construction - - 88,999 12,977,022 (13,066,021) Soldotna-Sterling 230kV Construction - - - 922,984 (922,984) BRADLEY Required Project Work Support - - - 148,542 (148,542) Bradley RPW - Bond Series 11 - - - 41,803 (41,803) Total Transmission Capital Projects 80,459,712 - - 88,999 14,090,352 (14,179,350) 66,280,362 GRIP 3 Round 1 Required Project Work Bond Series 11 Funded Projects - HVDC Line Total Funding Project Budget Committed Encumbered Total Actual Costs (Over) / Under Project Budget (Over) / Under Total Funding Allocate from BESS AEA Resolution 24-12 30,000,000 - - - 30,000,000 Allocate from Transmission AEA Resolution 24-02 20,000,000 - - - 20,000,000 Total Grip 3 Round 1 Capital Projects 50,000,000 50,000,000 - - - 50,000,000 50,000,000 Total Required Project Work 154,553,403 70,018,236 - 111,472 15,038,433 54,868,332 139,403,498 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Capital Projects Funded by Bond Proceeds Appendix A 06/30/25 50,000,000 50,000,000 66,280,362 80,459,712 24,093,691 23,123,137 Page 13 of 13 Bradley Operation and Dispatch Committee Report July 25, 2025 Meeting Dates: July 18th, 2025 at the project Notable Discussions and Items: □ Transmission and Generation limits and the associated studies □ Discussion on the assignment on SS and SSQ schedules and cost Water Tracking & Lake Level: □ As of July 1st, Bradley Lake contained approximately 69,384 MWh of energy. Committee Assignments: □ CEA continues work to address SCADA challenges to allow HEA wheeling capacity as defined in the existing Bradley agreement. □ BPMC approved - CEA & HEA investigating appropriate relay settings - $15k spend limit. • HEA and CEA are working on the development of work scope for best practice analysis. □ SS and SSQ line schedule and cost review Next Meeting: August 22nd, 2025 @ 10am